Dimensional Fund Advisors LP Raises Holdings in Open Text Co. (NASDAQ:OTEX)

Dimensional Fund Advisors LP grew its stake in Open Text Co. (NASDAQ:OTEX - Free Report) TSE: OTC by 18.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,017,020 shares of the software maker's stock after buying an additional 156,068 shares during the period. Dimensional Fund Advisors LP owned approximately 0.39% of Open Text worth $28,803,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc grew its position in Open Text by 103.8% in the fourth quarter. IFP Advisors Inc now owns 1,011 shares of the software maker's stock worth $29,000 after acquiring an additional 515 shares in the last quarter. Blue Trust Inc. increased its position in shares of Open Text by 40.8% during the 4th quarter. Blue Trust Inc. now owns 1,373 shares of the software maker's stock valued at $39,000 after purchasing an additional 398 shares during the last quarter. Generali Asset Management SPA SGR purchased a new position in shares of Open Text during the 4th quarter valued at about $62,000. Allworth Financial LP lifted its position in Open Text by 20.7% in the 4th quarter. Allworth Financial LP now owns 2,564 shares of the software maker's stock worth $73,000 after buying an additional 439 shares during the last quarter. Finally, CIBC Private Wealth Group LLC purchased a new stake in Open Text in the fourth quarter worth approximately $105,000. Institutional investors own 70.37% of the company's stock.

Open Text Trading Down 0.9 %

Shares of Open Text stock traded down $0.26 during midday trading on Friday, reaching $27.14. 831,557 shares of the company's stock traded hands, compared to its average volume of 818,613. The company has a market cap of $7.05 billion, a PE ratio of 11.03 and a beta of 1.15. The stock has a 50 day moving average of $25.80 and a 200-day moving average of $27.96. Open Text Co. has a 12 month low of $22.79 and a 12 month high of $34.20. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.87 and a current ratio of 0.87.

Open Text (NASDAQ:OTEX - Get Free Report) TSE: OTC last posted its earnings results on Wednesday, April 30th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. Open Text had a net margin of 12.21% and a return on equity of 23.23%. The firm had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.28 billion. During the same period last year, the company posted $0.94 EPS. The company's quarterly revenue was down 13.3% compared to the same quarter last year. As a group, equities analysts expect that Open Text Co. will post 3.45 EPS for the current fiscal year.

Open Text Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be paid a $0.2625 dividend. This represents a $1.05 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Friday, June 6th. Open Text's payout ratio is presently 42.86%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on OTEX. BMO Capital Markets lowered their price objective on shares of Open Text from $30.00 to $28.00 and set a "market perform" rating for the company in a report on Friday, May 2nd. UBS Group reduced their price objective on Open Text from $32.00 to $28.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. TD Securities lowered their target price on Open Text from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Sunday, February 9th. Barclays reduced their price target on Open Text from $36.00 to $29.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Finally, Scotiabank lowered their price objective on Open Text from $35.00 to $30.00 and set a "sector perform" rating for the company in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Open Text currently has a consensus rating of "Hold" and a consensus target price of $32.30.

About Open Text

Open Text Corporation provides information management software and solutions. The company offers content services, which includes content collaboration and intelligent capture to records management, collaboration, e-signatures, and archiving; and operates experience cloud platform that provides customer experience and web content management, digital asset management, customer analytics, AI and insights, e-discovery, digital fax, omnichannel communications, secure messaging, and voice of customer, as well as customer journey, testing, and segmentation.